Independent mortgage guides for San Diego and California homebuyers
Most mortgage content online is written by lenders selling you their own products. We compare loan programs, rates, and lenders side by side, with every claim sourced from CFPB guidelines, HUD documentation, and verified rate sheets. No affiliate links.
The FHA vs. conventional comparison breaks down minimum down payments, mortgage insurance costs, and loan limits with 2026 numbers. The first-time buyer programs guide covers every CalHFA grant, forgivable loan, and tax credit available in California, including San Diego Housing Commission programs. The VA loans guide covers eligibility, funding fees, and lender comparisons for military families near Camp Pendleton, Naval Base San Diego, and MCAS Miramar.
Home Loans & Mortgages
Independent mortgage guides, loan comparisons, and rate analysis for San Diego and California homebuyers. Covers FHA, VA, conventional, and first-time buyer programs with verified lender data.
FHA vs. Conventional Loans: How to Choose the Right Mortgage in 2026
FHA loans require a minimum 3.5% down payment with a 580 credit score and charge both upfront (1.75%) and annual mortgage insurance premiums for the life of the loan. Conventional loans require as little as 3% down but typically need a 620+ credit score, and their private mortgage insurance (PMI) drops off once you reach 20% equity. In 2026, the FHA baseline loan limit is $498,257 (up to $1,149,825 in high-cost counties like San Diego), while the conventional conforming limit is $806,500. FHA rates tend to run 0.125% to 0.25% lower than conventional rates for the same borrower profile, but the lifetime mortgage insurance cost often erases that advantage for borrowers with credit scores above 700. If your credit score is below 680 and you have less than 10% saved for a down payment, FHA is usually the better path. Above 700 with at least 5% down, conventional wins on total cost over the life of the loan.
First-Time Home Buyer Programs in California (2026): Every Grant, Loan, and Tax Credit Available
California offers more first-time buyer assistance than any other state. The CalHFA MyHome Assistance Program provides a deferred-payment junior loan up to 3.5% of your purchase price for FHA borrowers (3% for conventional). The CalHFA Dream For All Shared Appreciation Loan offers up to 20% of the purchase price as down payment help, but you repay that amount plus 20% of any home appreciation when you sell or refinance. The federal FHA program requires just 3.5% down with a 580 credit score, and VA loans require zero down for eligible veterans. California's Mortgage Credit Certificate lets you claim 20% of annual mortgage interest as a direct federal tax credit, worth $2,000 or more per year for the life of the loan. County-level programs like the San Diego Housing Commission's down payment assistance add another $10,000 to $40,000 depending on income. Income limits range from $153,000 to $235,000 depending on county and program. Not all programs are funded year-round; Dream For All exhausted its 2025 allocation within 11 days.
How to Get Pre-Approved for a Mortgage: A Step-by-Step Guide for 2026
Mortgage pre-approval is a lender's conditional commitment to loan you a specific amount, based on a verified review of your income, assets, debts, and credit history. The process typically takes 1 to 10 business days depending on the lender and your documentation readiness. You will need recent pay stubs, W-2s or tax returns for the past two years, two months of bank statements, and a government-issued ID. The lender pulls a hard credit inquiry, which may lower your FICO score by 5 to 10 points temporarily. Pre-approval letters generally remain valid for 60 to 90 days. Getting pre-approved before house hunting gives you a clear budget, signals to sellers that you are a serious buyer, and can speed up closing once you find a home. The CFPB recommends shopping multiple lenders within a 45-day window so all hard inquiries count as a single pull on your credit report.
VA Loans in California: Eligibility, Benefits, and How to Apply in 2026
VA home loans let eligible veterans, active-duty service members, and surviving spouses buy a home in California with zero down payment and no private mortgage insurance. In 2026, borrowers with full entitlement face no loan limit at all. Those with partial entitlement (typically second-time VA borrowers who haven't sold a previous VA-financed home) are subject to county conforming limits, which reach $1,149,825 in high-cost counties like San Diego, Los Angeles, and San Francisco. Eligibility requires 90 consecutive days of active-duty service during wartime, 181 days during peacetime, or 24 months for post-1980 enlistees. National Guard and Reserve members qualify after six years of service (or 90 days of activation under federal orders). A Certificate of Eligibility confirms your entitlement and can be obtained through eBenefits, VA Form 26-1880, or directly through your lender. The VA funding fee for first-time use is 2.15% with zero down and drops to 1.25% with 5% or more down. Disabled veterans and Purple Heart recipients serving on active duty are exempt from the funding fee entirely.